The Hill Times
Worldwide, countries lose billions of dollars in revenue to tax avoidance. This is money that could be used for life-saving public services, such as health care and education, and investments in climate action. Instead, the ultra-wealthy and multinational corporations abuse the weaknesses of our current global tax rules, and the rest of us are forced to foot the bill. Our current international tax system is rooted in unfairness, and it is time for a change.
The 2024 budget credits the growing progressivity of our domestic tax system with making the country a place where everyone can secure a better future. Canadian negotiators also consistently called for a prerequisite of “complementarity” with other forums. On the face of it, it makes sense for the UN tax convention to take into consideration the work done at forums like the OECD’s Framework on Base Erosion and Profit Shifting.
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